New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-29
THE PETROLECM MARKET

VIEWS Foou TIE FIELD 40 RANGE PRICES
The crude oil market yesterday attractive even 20
traders who hang the Fluctuations were Naed
enough fair profits to the lucky scapeF' whehef
no sold AZ 80 IL cents bought 81 cents And ths
animation OF trading and variety OF the mo' emenis u
prices drew speculative attention To the HaIAes
probably steady progress III either direction he'
have done. The price IS 10 cents t3-s above
TUESDAYS close, and after quick and excited squirt ID
IL cents r,al1auons caused reaction TO - cents
After that prices OF the day ana year were reached
90 and then another decline TO near 50 cents
followed The sales made at the same hguIes
the opening
The market yesterday undoubtedly received a buying
Impulse from "Outsde" public which It has not en-
oyed long time and the new purchases permitted
realization OF pons might have been provocative of
sharp setback few ago. 1t ended with an ex-
pcctJton among traders that reaction of or more
would occur to-day And yet the situation Is un-
god for the last months has
appointed both those traders VINO wished 10 get Top FOR
holdings and those who wished to secure cheaper
OIL" The Specializing element, while showing wisdom N
ali signs OF change In speculative temper
and cond tons, = mistaken IN Ignoring the substantial
la,, for an Improvement In values casual glance ~
the zeal posi-, ON Of Europe ought suggs. thou
10 outla,t day nuctuaon OF few cents. AZ mo
beginning " 1871 the visible supply OF petroleum at tho
seven posts OF Europe 54O,5oj barrels by
the circulars December the supply reported
only 727J26 barrels. In lo76 the average daily ship
Of oil pIe line deliveries representing consumption.
only 10000 bIIts IA $50 me da, average VIII "a
$4,000 barrels. The price OF refined IN December,
1876 va, 80 IL cents per gallon and crude selling
around Il per To-day the pce OF refined Il only
- cents per gallon the price OF crude j. around ID
cents. July visible supply at the tOnti-
l.3u79l5 barrels. COnudeGt Of the de-
moral ,aton Of the petroleum industry, hoping ihal Lima
fulu the expectations OF Its early friends lrlsl-
ng accident would confirm the general! bear
ish feeling Of Spectators Europe has allowed - supply
dw figure, OF which the German lOrS
fair examples. And now the American producer and
tenrr have joined hands 10 seek In business way 10 take
the naturally bulsh position OF the cOnudO-
order profit for their industry. Inere
few exceptions among the leading producers Of Tho
country refu>ais Join the shutdown encnt
producer particular IN the central REGION VINO has
been In the oil transportation interests and who
commands respected position at his home, l. surprising
his attitude toward policy that Is in, ndd
benefit capitalists rd ahorr- who have suffered from
the depression OF the last eighteen Eonts
renewals ~ loans or cerncates made ycster-
day about 10 cents, and az the end the nominal rats
up 30 The market closed strong but with
a pretty general expectation OF lower prices.
soditei Exchange follows Opening - ID, high
90 t-s, lowest 81 final SO 10. Sales barrels.
5,O7O,0OO.
Refined oil Is quiet, but the market is held strong 40
. cents per gallon Abel test at all ports
OIL CITY Penn Dec. 2S-National Transit Certicates
orcued at SsL highest 90. lowest. s67,; closet s5A
sale. a7O 600 barrels cearances 5O0i barrels
ter, %. barrels shipments lOls2l barrels runs
43.S2S barrels -. ,,-
hghor Certificates opened at ssh CLOSED
AZ aSp highest. S9S lowest s6's
Bx,sfoRp Penn. Dec ~ National Transit certlicttss
orenrd a ssh and closet NJ SsS highest sos lowest
S6Ts Calrsnces. 3.774000 barrels. -
Tlrusyiirr. Penn Dec. 2S-Nationai rrtlts Cs-ttGN0
opened at $50: highest, 30: lowest 81; closed. $50